Business Forecast sjbiz jan2015 PDf
South Jersey Biz January 2015
Our Vice President, L. Scott Elwell, MST, EA is currently featured in the January, 2015 edition of South Jersey Biz Magazine. The article features predictions from local industry leaders on what 2015 has in store for the South Jersey business world. Here is a copy of the article as well as a link to the website where it also appears.
by Editorial Staff–South Jersey Biz
Local industry leaders give us their predictions on what 2015 has in store for the South Jersey business world. In an attempt to gain a firmer grasp on the ever-changing business landscape, South Jersey Biz reached out to area executives from varying industries to get their take on what the next 12 months will hold. Here are their business forecasts and predictions for what lies ahead—both the good and the bad.
Small Business Forecast
L. Scott Elwell, MST, EA Vice President,
Business Accounting Systems, PC
With the holiday season in the rear– view mirror, our clients are looking for some insight into 2015. A new year brings change, a fresh outlook and possibly some uncertainty.
It’s been a belief that small business drives the U.S. recovery, and nothing proves that more than a recent blog by the SBA, which pointed out that of the 10.9 million jobs added since the recession of 2008, 7.9 million were from startups and small business (businesses with sales of $10 million or less). They also pointed out that for 15 straight quarters small business has accounted for 80 percent of the job gains in any given quarter.
Those are impressive numbers but how about you? A majority of our clients haven’t had the same positive numbers this past year. They have concerns over the economy, consumer confidence, the tax code and health care and its pending regulations. There is hope that a leadership shift in Senate will have a significant, positive impact on small business. The new Congress is expected to be in a stronger position to overrule some of the increased regulations that will create additional paperwork and expense to the small business sector.
Even with a positive change in Congress comes a challenge as it relates to navigating the rules and regulations that will remain. Our firm will be ramping up our strategic counsel beyond tax preparation and accounting to provide more services required by the small business person throughout these changing times. The key area in our opinion will be providing proactive business advice. That coupled with technology consulting and business mentoring are areas small business will need the most in the upcoming year.
Most indicators are of a positive nature; we are leaning that way, and the few glimmers of hope this past year will keep us fighting. If you are one of the lucky ones to have survived this recession so far remember not to forget to keep your company technology sound and, probably most important, keep your marketing plan in place: it may need to be tweaked but it still needs to be.
Here is the direct link to the article: